BULLETIN NO: MGR-95-035
TO: All Reinsured Companies
CFSA Headquarters, Program Delivery and Field Operations
All Risk Management Field Offices
FROM: Kenneth D. Ackerman
Acting Deputy Administrator
SUBJECT: 1996 Maximum Price Elections for Wheat, Barley, Oats, and Rye
The Federal Crop Insurance Corporation (FCIC) today announced the maximum
price elections for 1996 crops are as follows (all prices are per bushel):
other wheat - $3.55; durum wheat - $4.10;
feed barley - $2.15; malting barley - $2.65;
oats - $1.50; and rye - $2.75.
These price elections are available to producers who elect additional
coverage for their 1996 crops(s). Producers who choose the CAT level will
be insured at 60 percent of these maximum values (except malting barley,
which may not be insured under CAT). Price election choices must be made on
or before the sales closing date for the crop in a county.
The preliminary price elections previously announced were $3.15 for other
wheat, $2.00 for feed barley, $1.40 for oats, and $2.60 for rye. Because the
market price elections are all higher than their preliminary price elections,
producers who originally elected the preliminary price will be impacted.
Eligibility for level of subsidy is based on the market price, so anyone using
the preliminary price election may receive a lower level of subsidy unless
changed prior to the contract change date.
The price elections for CAT coverage are as follows:
other wheat - $2.13; durum wheat - $2.46;
feed barley - $1.29; oats - $0.90,
and rye - $1.65.